Sovran Buys Self-Storage Center in Suburban Philly
ByIn a deal brokered by HFF, Sovran Self Storage purchased a 383-unit facility in Glenolden, Pa., a suburb of Philadelphia.
Richard Schontz, Managing Director, HFF
Philadelphia–Sovran Self Storage, which operates under Uncle Bob’s Self Storage trade name, has acquired a 383-unit facility located in the Philadelphia suburb of Glenolden, Pa.
HFF marketed the property on behalf of the seller, Morris Realty and Investment LLC. Sovran purchased the asset in an all-cash transaction.
Glenolden Self Storage, a former lumberyard, was renovated and converted into a self-storage facility by the seller in 2008. The 37,700-rentable-square-foot storage center features a mix of climate-controlled and non-climate-controlled units, along with covered surface parking spaces. The property is located at 407 South Chester Pike (Route 13), a heavily-trafficked thoroughfare in Glenolden. Sovran, a publicly traded REIT, will rebrand the facility as Uncle Bob’s Self Storage…
Sovran Buys Self-Storage Center in Suburban Philly
